DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

capital gains / income from other sources from the said sale has not been offered to tax.\nOn the basis of the above information received from the Investigation Wing and perusal of the\nseized documents, the AO had reason to believe that income chargeable to tax has escaped\nassessment for the assessment year 2006-07 and hence the provisions of section

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

In the result, we allow appeal filed by the assessee

capital gains / income from other sources from the said sale has not been offered to tax.\nOn the basis of the above information received from the Investigation Wing and perusal of the\nseized documents, the AO had reason to believe that income chargeable to tax has escaped\nassessment for the assessment year 2006-07 and hence the provisions of section

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(4), BANGALORE vs. MR. D K SHIVAKUMAR, BANGALORE

capital gains / income from other sources from the said sale has not been offered to tax.\nOn the basis of the above information received from the Investigation Wing and perusal of the\nseized documents, the AO had reason to believe that income chargeable to tax has escaped\nassessment for the assessment year 2006-07 and hence the provisions of section

SHANTHA ALIAS SHANTHAMMA,BANGALORE vs. DCIT, CENTRAL CIRCLE-2(4), BANGALORE

In the result, the appeal of the assessee is hereby allowed

gains, sale proceeds, and refundable deposits were also found to be unsustainable.", "result": "Allowed", "sections": [ "153C", "143(2)", "132", "131", "45(5A)", "139(1)", "143(1)" ], "issues": "Whether the assessment proceedings initiated under Section 153C were valid in absence of incriminating material, proper satisfaction note, and notice u/s 143(2). Also, whether the additions made on account of capital

NALAPAD PROPERTIES ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOMER TAX, CENTRAL CIRCLE-2(3) , BANGALORE

Section 45(5A) of the Act which is applicable\nfor the individuals and HUF and not applicable to the appellant which\nis a Registered partnership Firm.\n9. Without prejudice to the above ground it is urged that the Id. CIT(A)\nought to have appreciated the act that the delivery of possession of\nbuilt

RAMAMURTHY PRAVEEN CHANDRA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, we have allowed grounds raised by the assessee as per above terms for all the years

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

CAPITAL GAIN 12563022 IOS 101974790 51714335 152804718 57852150 TOTAL INCOME 367996150 1286588270 669502500 387279160 RETURN FILED ON139(1) 29.09.2013 28.0902014 30.09.2015 17.10.2016 143 (1) 31.10.2014 1,20,62,015 17.01.2017 80602017 143(3) ( RETURNED INCOME ACCEPTED 29.03.2016 29.12.2016 153C NOTICE 26.10.2020 26.10.2020 26.10.2020 26.10.2020 A53A RETURN FILED 25.11.2020 25,11.2020 25.11.2020 25.11.2020 ADDITION MADE DISALLOWED

RAMAMURTHY PRAVEEN CHANDRA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, we have allowed grounds raised by the assessee as per above terms for all the years

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

CAPITAL GAIN 12563022 IOS 101974790 51714335 152804718 57852150 TOTAL INCOME 367996150 1286588270 669502500 387279160 RETURN FILED ON139(1) 29.09.2013 28.0902014 30.09.2015 17.10.2016 143 (1) 31.10.2014 1,20,62,015 17.01.2017 80602017 143(3) ( RETURNED INCOME ACCEPTED 29.03.2016 29.12.2016 153C NOTICE 26.10.2020 26.10.2020 26.10.2020 26.10.2020 A53A RETURN FILED 25.11.2020 25,11.2020 25.11.2020 25.11.2020 ADDITION MADE DISALLOWED

RAMAMURTHY PRAVEEN CHANDRA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, we have allowed grounds raised by the assessee as per above terms for all the years

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

CAPITAL GAIN 12563022 IOS 101974790 51714335 152804718 57852150 TOTAL INCOME 367996150 1286588270 669502500 387279160 RETURN FILED ON139(1) 29.09.2013 28.0902014 30.09.2015 17.10.2016 143 (1) 31.10.2014 1,20,62,015 17.01.2017 80602017 143(3) ( RETURNED INCOME ACCEPTED 29.03.2016 29.12.2016 153C NOTICE 26.10.2020 26.10.2020 26.10.2020 26.10.2020 A53A RETURN FILED 25.11.2020 25,11.2020 25.11.2020 25.11.2020 ADDITION MADE DISALLOWED

RAMAMURTHY PRAVEEN CHANDRA,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BENGALURU

In the result, we have allowed grounds raised by the assessee as per above terms for all the years

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan K

CAPITAL GAIN 12563022 IOS 101974790 51714335 152804718 57852150 TOTAL INCOME 367996150 1286588270 669502500 387279160 RETURN FILED ON139(1) 29.09.2013 28.0902014 30.09.2015 17.10.2016 143 (1) 31.10.2014 1,20,62,015 17.01.2017 80602017 143(3) ( RETURNED INCOME ACCEPTED 29.03.2016 29.12.2016 153C NOTICE 26.10.2020 26.10.2020 26.10.2020 26.10.2020 A53A RETURN FILED 25.11.2020 25,11.2020 25.11.2020 25.11.2020 ADDITION MADE DISALLOWED

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE vs. M/S OLIVIYA APPARELS PRIVATE LIMITED, BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain computation. The ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 4 of 23 CIT(A) dismissed the assessee’s appeal for AY 2007-08 by upholding the addition made towards undisclosed profits from sale of mutual funds. 7. Before the CIT(Appeals), the assessee had raised a legal contention that the AO has assumed jurisdiction u/s. 153C without

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE vs. M/S OLIVIYA APPARELS PRIVATE LIMITED, BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain computation. The ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 4 of 23 CIT(A) dismissed the assessee’s appeal for AY 2007-08 by upholding the addition made towards undisclosed profits from sale of mutual funds. 7. Before the CIT(Appeals), the assessee had raised a legal contention that the AO has assumed jurisdiction u/s. 153C without

M/S. OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain computation. The ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 4 of 23 CIT(A) dismissed the assessee’s appeal for AY 2007-08 by upholding the addition made towards undisclosed profits from sale of mutual funds. 7. Before the CIT(Appeals), the assessee had raised a legal contention that the AO has assumed jurisdiction u/s. 153C without

M/S OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain computation. The ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 4 of 23 CIT(A) dismissed the assessee’s appeal for AY 2007-08 by upholding the addition made towards undisclosed profits from sale of mutual funds. 7. Before the CIT(Appeals), the assessee had raised a legal contention that the AO has assumed jurisdiction u/s. 153C without

M/S OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain computation. The ITA Nos.1211 to 1212 & 1251 to 1253/Bang/2013 Page 4 of 23 CIT(A) dismissed the assessee’s appeal for AY 2007-08 by upholding the addition made towards undisclosed profits from sale of mutual funds. 7. Before the CIT(Appeals), the assessee had raised a legal contention that the AO has assumed jurisdiction u/s. 153C without

AKSHAY KUMAR RUNGTA,BANGALORE vs. INCOME TAX OFFICER, WARD 2(1), INTERNATIONAL TAXATION

In the result, appeal filed by the assessee is allowed as per above terms

Bench: Shri. Laxmi Prasad Sahu & Shri. Keshav Dubeyit(It)A No.66/Bang/2024 Assessment Year :2015-16

2 of 31 3. Grounds on reopening: a. Grounds on notice issued under section 148: i. The notice issued under section 148 of the Act is bad in law. ii. The reopening of assessment is void ab initio as the reasons recorded by the learned assessing officer is based on borrowed satisfaction and that there is no independent application

MOHAMMED MUJEEB SIKANDER,MANGALORE vs. DCIT, CENTRAL CIRCLE (1), MANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

153C of the Act. However, this statement was retracted by the assessee stating that statement was recorded at the time of search at his residence on 8.2.2018 was prepared by Income Tax Investigating Officer and on which his signature was taken forcibly as against the principles of Income Tax Act and against the principles of natural justice. Hence, return filed

MOHAMMED MUJEEB SIKANDER,MANGALORE vs. DCIT, CENTRAL CIRCLE (1), MANGALORE

Bench: Shri Chandra Poojari & Smt. Beena Pillai

153C of the Act. However, this statement was retracted by the assessee stating that statement was recorded at the time of search at his residence on 8.2.2018 was prepared by Income Tax Investigating Officer and on which his signature was taken forcibly as against the principles of Income Tax Act and against the principles of natural justice. Hence, return filed

DCIT, CC-2(1), BENGALURU, BENGALURU vs. CHAITANYA PROPERTIES PVT LTD, BENGALURU

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2011-12

153C of the Act. 8. On the merits of the case, the Bench, while addressing the issue of business income and capital gains (whether Short-Term Capital Gains (STCG) or Long-Term Capital Gains (LTCG)) arising from the Joint Development Agreement (JDA), held that the income from the JDA would be liable to tax only from A.Y. 2012-13 onwards